Team News Riveting
New Delhi, September 4
The Centre had short-listed 24 focus manufacturing sectors that have the potential to expand, scale-up operations, improve quality, and lead enhancement of Indian share in global trade and value chain.
“These sectors have capacity to do import substitution and push exports,” Union Minister of Commerce and Industry Piyush Goyal said while interacting with the Office-bearers of various Export Promotion Councils (EPCs), to discuss the issues concerning the country’s global trade, ground level situation, and problems being faced by the exporters.
Goyal had been holding a series of discussions with the EPCs, particularly since the lockdown. The Commerce Secretary Dr Anup Wadhawan, DGFT Amit Yadav and other senior officers of the Ministry were present in the meeting.. He said that India had been seen in the world as a trusted and resilient partner in the global value chain.
On the issue of recent changes in the Merchandise Export from India Scheme (MEIS), the Minister said that the capping of Rs 2 Crore would not affect 98 per cent of the exporters who claim benefit under the scheme.
The Government has already announced a Remission of Duties or Taxes on Export Products (RoDTEP) scheme for exporters to take the place of MEIS, and a Committee has also been set up to determine the ceiling rates under the RoDTEP scheme. This new scheme would reimburse the embedded taxes and duties already incurred by exporters.
